AVERAGE worldwide air cargo rates in July were up by 12 per cent, year on year (YoY), driven by continuing strong demand from sectors such as e-commerce and persistent disruptions to supply chains in various parts of the world.
Average global rates rose by a further two per cent in July compared with June, to US$2.50 a kilo, according to the latest figures from WorldACD Market Data.
Based on a full-market average of spot rates and contract rates, rates are up 44 per cent compared with the last pre-Covid equivalent period, July 2019.
Worldwide rates have risen progressively from an average of around $2.30 in the first quarter to around $2.45 in the second quarter, edging up slightly further in July to $2.50 a kilo, the update added.
Asia Pacific to the US was among the key lanes driving up overall average prices in July 2024 where spot rates averaged around $5.80 a kilo across the month, significantly higher compared with the already-elevated rates recorded in June.
Compared with July 2023, spot rates from Asia Pacific to the US were up by close to 70 per cent, reports Mumbai's The STAT Trade Times.
Despite the political and logistical disruptions that took place in Bangladesh, air cargo tonnages from Bangladesh bounced back, the update added.
SeaNews Turkey
Average global rates rose by a further two per cent in July compared with June, to US$2.50 a kilo, according to the latest figures from WorldACD Market Data.
Based on a full-market average of spot rates and contract rates, rates are up 44 per cent compared with the last pre-Covid equivalent period, July 2019.
Worldwide rates have risen progressively from an average of around $2.30 in the first quarter to around $2.45 in the second quarter, edging up slightly further in July to $2.50 a kilo, the update added.
Asia Pacific to the US was among the key lanes driving up overall average prices in July 2024 where spot rates averaged around $5.80 a kilo across the month, significantly higher compared with the already-elevated rates recorded in June.
Compared with July 2023, spot rates from Asia Pacific to the US were up by close to 70 per cent, reports Mumbai's The STAT Trade Times.
Despite the political and logistical disruptions that took place in Bangladesh, air cargo tonnages from Bangladesh bounced back, the update added.
SeaNews Turkey
